Bearish XRP currently $0.002 lower after trading as low as $0.509

Struggling to find upward momentum, XRP has shed $0.002 to currently trade at $0.511 as it ranges between $0.509 and $0.513 so far today.

Ripple made an initial break below its 3 day Simple Moving Average at $0.507, a possible indication of a forthcoming negative trend. Despite this, XRP could begin to recover as it approaches significant support, now 1 cents away from $0.504. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts Ripple to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the XRP is expected to attract significant bearish sentiment in the coming days.

Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. EOS is up 1% to $1.23. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.

Ripple now trading 48.82% above its 3-month low of $0.307. Ripple is currently trading with a market cap of 26.42 billion with an average daily volume of 1.97 billion.